August 11, 2022
Net income slipped 28% in the second quarter to $92,101,000 from $128,676,000 on 14% lower revenues of $1,513,467,000 down from $1,751,311,000 including a $100 million top line and $35 million bottom line impact from the previously reported ransomware attack.
The footwear maker and parent of Chinese retailer, Pou Sheng, saw net income attributable to shareholders inch up 3% in the first half to $175,049,000 from $170,255,000, on 2% lower total revenues of $4,709,792,000 against $4,807,087,000.
Net loss in the fiscal first quarter widened to C$63.6 million ($49.8 mm) from C$57.5 million on higher operating expenses as revenue grew 24% to $69.9 million ($54.8 mm) from C$56.3 million.
Net loss slightly widened to $19,873,000 in the second quarter from $19,728,000 on net sales that were up 53% to $136,019,000 from $88,745,000, but the bottom line was hit by $30.6 million in impairment charges related to goodwill for Isle.
Second quarter revenues increased 5% to C$476.1 million ($373.1 mm) from $453.4 million at SportChek and Canadian Tire’s other sporting goods banners, including 4.1% comparable sales growth.
Brooks sales increased 11% overall as the global running market normalizes following two years of outsized demand spurred by the pandemic.
Net income at the synthetic yarn producer plunged 74% in the fiscal fourth quarter ended July 3 to $3,496,000 from $13,419,000 on 18% higher revenues of $217,576,000 up from $184,445,000.
The South African protective equipment maker saw net income increase 13% to $2,726,920, up from $2,408,648 as revenues grew 25% to $17,938,310 from $14,300,559 in the second quarter.
On the heels of its acquisition of Texon in July, Coats Group inked a definitive agreement to purchase sustainable footwear supplier Rhenoflex GmbH for undisclosed terms.
Future Motion is recalling the footpads on about 20,500 Onewheel GT Electric Skateboards, because they can fail to disengage after the rider has dismounted, allowing the skateboard to unexpectedly continue to operate.